Sales Beat

CBRE Appointed Leasing Agent after Selling West Chelsea Commercial Condo

547 West 20th Street 027

Having sold the building at 545-547 West 20th Street 12 years ago, Stuart Siegel of CBRE had a unique understanding of the property when earlier this year the owners asked him to sell the property’s ground floor commercial condo space.

Last week, Mr. Siegel and his team closed the sale on behalf of previous ownership to 120 Eleventh Avenue Retail LLC for approximately $7.95 million. The team was then retained by the buyer to market the 4,773-square-foot corner space at 547 West 20th Street for lease.

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Lease Beat

Etrali Signs Lease at 1500 Broadway

Etrali Trading Solutions, a French company, has signed a seven-and-a-half-year lease for 5,837 square feet on the 19th floor of 1500 Broadway, The Commercial Observer has learned.

Starting rent for Etrali’s lease is in the mid-$50s per square foot, according to data from CompStak. An Etrali employee confirmed the deal, citing an expiring lease at the company’s current 225 Liberty Street location and better financial terms as motivation for the relocation. The company expects to move into its new Times Square space next month. Read More

Lease Beat

Jed Root to Relocate to 333 Seventh Avenue

333 Seventh Avenue. (Credit: PropertyShark)

Fashion industry agency Jed Root, Inc. will relocate to 333 Seventh Avenue from 61 Walker Street after singing a 10-year, 11,000-square-foot deal at the Midtown property also known as the Fur Trade Building.

“Jed Root was attracted to the space by the low price and the opportunity to be in a cool neighborhood,” said Matthew Bergey of CBRE, who represented the tenant, in a statement. Asking rent for the deal, which will see Jed Root take a portion of the ninth floor, was $40 per square foot. Read More

Lease Beat

Videology Signs 16,000-Square-Foot Lease At 1500 Broadway

1500 Broadway

The digital advertising provider Videology Inc. signed a  10-year, 16,000-square-foot lease at 1500 Broadway, also known as Times Square Plaza.

Jones Lang LaSalle‘s Jim Wenk and Rhett Miller represented the tenant. CBRE‘s Paul Amrich, Patrice Meagher and Daniel Bodner represented the landlord, Zapco 1500 Investment LP.

The company will relocate to the fourth floor from the 11th floor of the Class A, 501,429-square-foot building. Fellow tenants include Disney and ABC, Hewitt Associates and About.com. Read More

Lease Beat

IIG Capital Inks Deal at 1500 Broadway

Courtesy of Photobucket

IIG Capital LLC has inked a deal to expand its lease at 1500 Broadway. The finance trade firm will now occupy 5,679 square feet in Tameres Realty’s prime Times Square building.

“[Their] growth was due to a new business line [that] they have added,” said Paul Amrich, vice chairman of the New York tri-state region division Read More